Mentice AB acquires all assets related to the software solution Ankyras from the Spanish corporation Galgo Medical S.L.

STOCKHOLM, June 9, 2022 /PRNewswire/ -- In accordance with the press release published on 9 June 2022, Mentice AB (publ) ("Mentice" or the "Company"), has entered into an agreement (the "Agreement") to acquire all assets relating to the software solution Ankyras ("Ankyras") from Galgo Medical S.L. ("Galgo") (the "Acquisition"), which was conditional on the receipt of external financing. In accordance with the press release published on 9 June 2022, Mentice has received such external financing through a directed new share issue and thereby fulfilled the condition of the financing in the Agreement.

The Acquisition

Mentice has, as published in a press release on 9 June 2022, entered into an agreement with Galgo to acquire all assets related to Ankyras for an amount of approximately EUR 1.80 million (approximately SEK 18.78 million^[1]) with a possible additional purchase price of approximately EUR 0.975 million (approximately SEK 10.17 million¹), and with a total purchase price amounting to approximately EUR 2.775 million (approximately SEK 28.95 million¹) to be paid in cash. The completion of the Acquisition has been conditional on Mentice receiving financing. On 9 June 2022, Mentice announced the implementation of a directed new share issue (the "Directed New Share Issue") through an accelerated book building procedure and has thus received financing for the Acquisition. For more information regarding the Directed New Share Issue, see a separate press release entitled " Mentice AB completes a directed new share issue of approximately SEK 60 million which was significantly oversubscribed" which was published today. Completion of the Acquisition is expected in June 2022.

For additional information, please contact:

Göran Malmberg, CEO, Mentice
M US: +1 (312) 860 5610
M Sweden: +46 70 309 22 22
E: [email protected]
 

Gunilla Andersson, CFO, Mentice
M: +46 70 213 71 38
E: [email protected] 

About Mentice

Mentice is a global market leader and a company that offers high-tech solutions for simulation to the medical sector with a focus on the fast-growing market for endovascular treatment methods. The company's solutions assist specialists in the healthcare sector regarding development, management and continuous improvement of competence and technical skills in order to positively influence patient safety and quality in healthcare. Mentice solutions are scientifically validated and are specifically developed for specialists in the healthcare sector and for the medical technology industry. Neurovascular, cardiology and peripheral intervention are some of the specialty areas covered by the Company's solutions. Visit the Company's website for more information, www.mentice.com

The Company's shares trade on Nasdaq First North Premier Growth Market, Stockholm. Ticker: MNTC. The Company's Certified Adviser is FNCA Sweden AB, reachable via +46 8 52 80 03 99.

^[1] EUR/SEK = 10,4330

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SOURCE Mentice AB